Exact Sciences (NASDAQ:EXAS) Shares Down 3.4%

Exact Sciences Co. (NASDAQ:EXAS) was down 3.4% during mid-day trading on Monday . The company traded as low as $43.02 and last traded at $43.32. Approximately 155,138 shares changed hands during trading, a decline of 94% from the average daily volume of 2,599,878 shares. The stock had previously closed at $44.85.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on EXAS shares. Canaccord Genuity Group lowered their target price on shares of Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Citigroup dropped their price objective on Exact Sciences from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. BTIG Research reduced their target price on Exact Sciences from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Jefferies Financial Group started coverage on Exact Sciences in a report on Monday, June 3rd. They issued a “buy” rating and a $75.00 price target for the company. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

Exact Sciences Stock Performance

The stock’s 50-day moving average price is $51.55 and its 200 day moving average price is $60.63. The company has a quick ratio of 1.45, a current ratio of 1.64 and a debt-to-equity ratio of 0.66.

Exact Sciences (NASDAQ:EXAS) last issued its quarterly earnings results on Wednesday, May 8th. The medical research company reported ($0.50) EPS for the quarter, hitting the consensus estimate of ($0.50). The firm had revenue of $637.52 million for the quarter, compared to analysts’ expectations of $624.95 million. Exact Sciences had a negative net margin of 9.48% and a negative return on equity of 7.12%. Analysts anticipate that Exact Sciences Co. will post -1.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Exact Sciences

In other news, CEO Kevin T. Conroy sold 1,155 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $60.15, for a total transaction of $69,473.25. Following the sale, the chief executive officer now owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Kevin T. Conroy sold 1,155 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $60.15, for a total transaction of $69,473.25. Following the transaction, the chief executive officer now directly owns 1,156,191 shares in the company, valued at approximately $69,544,888.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sarah Condella sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $70.00, for a total transaction of $140,000.00. Following the completion of the sale, the executive vice president now owns 71,787 shares of the company’s stock, valued at $5,025,090. The disclosure for this sale can be found here. Insiders sold a total of 5,498 shares of company stock worth $370,105 over the last ninety days. 1.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Exact Sciences

A number of large investors have recently added to or reduced their stakes in the business. American Trust acquired a new position in shares of Exact Sciences in the first quarter valued at $208,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Exact Sciences by 92.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 708 shares of the medical research company’s stock worth $49,000 after buying an additional 340 shares during the period. DekaBank Deutsche Girozentrale grew its stake in Exact Sciences by 41.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 58,116 shares of the medical research company’s stock valued at $3,918,000 after buying an additional 16,980 shares during the last quarter. EULAV Asset Management raised its holdings in Exact Sciences by 23.7% in the 1st quarter. EULAV Asset Management now owns 318,000 shares of the medical research company’s stock valued at $21,961,000 after acquiring an additional 61,000 shares during the period. Finally, Cetera Advisors LLC lifted its position in Exact Sciences by 518.8% during the first quarter. Cetera Advisors LLC now owns 39,147 shares of the medical research company’s stock worth $2,703,000 after acquiring an additional 32,821 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.

Exact Sciences Company Profile

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.